Rep. Robert Bresnahan, Jr. Buys Microchip Technology Incorporated (NASDAQ:MCHP) Shares

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Microchip Technology Incorporated NASDAQ: MCHP. In a filing disclosed on May 08th, the Representative disclosed that they had bought between $1,001 and $15,000 in Microchip Technology stock on April 8th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT" account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 4/17/2025.
• Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 4/16/2025.
• Sold $1,001 - $15,000 in shares of Western Digital NASDAQ: WDC on 4/11/2025.
• Purchased $1,001 - $15,000 in shares of Alphabet NASDAQ: GOOG on 4/11/2025.
• Purchased $1,001 - $15,000 in shares of Texas Instruments NASDAQ: TXN on 4/11/2025.
• Purchased $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 4/11/2025.
• Sold $1,001 - $15,000 in shares of Western Digital NASDAQ: WDC on 4/10/2025.
• Sold $1,001 - $15,000 in shares of DexCom NASDAQ: DXCM on 4/8/2025.
• Sold $1,001 - $15,000 in shares of Invesco NYSE: IVZ on 4/8/2025.
• Sold $1,001 - $15,000 in shares of Generac NYSE: GNRC on 4/8/2025.

Microchip Technology Trading Down 1.7%

MCHP stock traded down $1.03 during midday trading on Thursday, reaching $59.62. The stock had a trading volume of 1,344,263 shares, compared to its average volume of 8,487,586. The company has a quick ratio of 1.23, a current ratio of 2.25 and a debt-to-equity ratio of 1.12. Microchip Technology Incorporated has a twelve month low of $34.13 and a twelve month high of $100.57. The firm has a market cap of $32.12 billion, a price-to-earnings ratio of 106.38 and a beta of 1.42. The business has a fifty day simple moving average of $47.18 and a two-hundred day simple moving average of $56.27.

Microchip Technology (NASDAQ:MCHP - Get Free Report) last released its earnings results on Thursday, May 8th. The semiconductor company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $970.50 million for the quarter, compared to analysts' expectations of $962.86 million. Microchip Technology had a return on equity of 12.62% and a net margin of 6.49%. The business's quarterly revenue was down 26.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS. As a group, research analysts expect that Microchip Technology Incorporated will post 1.03 EPS for the current fiscal year.

Microchip Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be given a $0.455 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.82 dividend on an annualized basis and a yield of 3.05%. Microchip Technology's payout ratio is -18,200.00%.

Institutional Investors Weigh In On Microchip Technology

Several hedge funds have recently bought and sold shares of MCHP. Evergreen Capital Management LLC grew its stake in shares of Microchip Technology by 91.1% during the first quarter. Evergreen Capital Management LLC now owns 6,955 shares of the semiconductor company's stock worth $337,000 after buying an additional 3,316 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Microchip Technology by 2,580.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,064,964 shares of the semiconductor company's stock worth $51,555,000 after acquiring an additional 1,025,228 shares during the last quarter. WPG Advisers LLC acquired a new stake in shares of Microchip Technology in the 1st quarter worth about $40,000. Lansforsakringar Fondforvaltning AB publ bought a new stake in Microchip Technology in the 1st quarter worth about $318,000. Finally, CreativeOne Wealth LLC grew its position in shares of Microchip Technology by 58.0% during the 1st quarter. CreativeOne Wealth LLC now owns 45,572 shares of the semiconductor company's stock valued at $2,206,000 after acquiring an additional 16,730 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. B. Riley upped their price objective on Microchip Technology from $60.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Mizuho increased their target price on Microchip Technology from $58.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Bank of America upgraded Microchip Technology from an "underperform" rating to a "neutral" rating and set a $56.00 price objective for the company in a research report on Friday, May 9th. Piper Sandler restated an "overweight" rating and set a $65.00 price objective (down from $85.00) on shares of Microchip Technology in a research report on Friday, February 7th. Finally, Stifel Nicolaus raised their price objective on Microchip Technology from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $67.42.

Insider Buying and Selling

In other news, CFO James Eric Bjornholt sold 3,724 shares of Microchip Technology stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $60.88, for a total transaction of $226,717.12. Following the sale, the chief financial officer now owns 33,272 shares of the company's stock, valued at approximately $2,025,599.36. The trade was a 10.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.10% of the stock is owned by insiders.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election. Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

About Microchip Technology

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.